WORCESTER, Mass.--(BUSINESS WIRE)--CytRx Corporation (NASDAQ: CYTR) today announced that RXi Pharmaceuticals Corporation (RXi), a majority-owned subsidiary of CytRx, has entered into a master agreement with the University of Massachusetts Medical School (UMMS) that provides RXi option rights to license all unrestricted therapeutic RNAi technology developed at UMMS over the next three years, in return for cash payments and equity. RNAi has been shown to effectively interfere with the expression of targeted disease-associated genes with great specificity and potency.
